The larger the retailer, the more complex the business becomes to manage. Marketing, buying and merchandising decisions are no longer made by store line personnel. Distance grows between these decision makers and the end consumer. Store management focuses on running the stores and becomes less involved in procurement. Effective gathering of data and analysis of a variety of KPIs is crucial for the retaileręs success.
For retailers, understanding the importance and effective usage of KPIs is vital. This white paper will:
* Explore the common KPIs used today across all sales channels:
*Define the formulae:
* Discuss potential ways to improve them:
* Explain their use in the routine management processes of the business. :
For senior retail management, this paper will serve as a valuable reference to identify potential actions to improve KPIs whenever necessary.
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